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<br />shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss,
<br />damage, cost or expense incurred by the City or the Paying Agent/Registrar in connection therewith.
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<br />(d) In the event that any such mutilated, lost, apparently destroyed or wrongfully taken
<br />Certificate has become or is about to become due and payable, the Paying Agent/Registrar, in its discretion,
<br />instead of issuing a replacement Certificate, may pay such Certificate if it has become due and payable or
<br />may pay such Certificate when it becomes due and payable.
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<br />(e) Each replacement Certificate delivered in accordance with this Section shall constitute an
<br />original contractual obligation of the City and shall be entitled to the benefits and security of this Ordinance
<br />to the same extent as the Certificate or Certificates in lieu of which such replacement Certificate is delivered.
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<br />Section 3.09. Book-Entry Onlv System.
<br />
<br />(a) The definitive Certificates shall be initially issued in the form of a separate single fully
<br />registered Certificate for each of the maturities thereof. Upon initial issuance, the ownership of each such
<br />Certificate shall be registered in the name of Cede & Co., as nominee of DTC, and except as provided in
<br />Section 3.11 hereof, all of the outstanding Certificates shall be registered in the name of Cede & Co., as
<br />nominee of DTC.
<br />
<br />(b) With respect to Certificates registered in the name of Cede & Co., as nominee ofDTC, the
<br />City and the Paying Agent/Registrar shall have no responsibility or obligation to any DTC Participant or to
<br />any person on behalf of whom such a DTC Participant holds an interest in the Certificates, except as
<br />provided in this Ordinance. Without limiting the immediately preceding sentence, the City and the Paying
<br />Agent/Registrar shall have no responsibility or obligation with respect to (i) the accuracy of the records of
<br />DTC, Cede & Co. or any DTC Participant with respect to any ownership interest in the Certificates, (ii) the
<br />delivery to any DTC Participant or any other person, other than an Owner, as shown on the Register, of any
<br />notice with respect to the Certificates, including any notice of redemption, or (iii) the payment to any DTC
<br />Participant or any other person, other than an Owner, as shown in the Register of any amount with respect
<br />to principal of, premium, if any, or interest on the Certificates. Notwithstanding any other provision of this
<br />Ordinance to the contrary, the City and the Paying Agent/Registrar shall be entitled to treat and consider the
<br />person in whose name each Certificate is registered in the Register as the absolute Owner of such Certificate
<br />for the purpose of payment of principal of, premium, if any, and interest on the Certificates, for the purpose
<br />of giving notices of redemption and other matters with respect to such Certificate, for the purpose of
<br />registering transfer with respect to such Certificate, and for all other purposes whatsoever. The Paying
<br />Agent/Registrar shall pay all principal of, premium, if any, and interest on the Certificates only to or upon
<br />the order of the respective Owners, as shown in the Register as provided in this Ordinance, or their respective
<br />attorneys duly authorized in writing, and all such payments shall be valid and effective to fully satisfY and
<br />discharge the City's obligations with respect to payment of, premium, if any, and interest on the Certificates
<br />to the extent of the sum or sums so paid. No person other than an Owner, as shown in the register, shall
<br />receive a Certificate evidencing the obligation ofthe City to make payments of amounts due pursuant to this
<br />Ordinance. Upon delivery by DTC to the Paying Agent/Registrar of written notice to the effect that DTC
<br />has determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in this
<br />Ordinance with respect to interest checks or drafts being mailed to the registered Owner at the close of
<br />business on the Record Date, the word "Cede & Co." in this Ordinance shall refer to such new nominee of
<br />DTC.
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